Can I take my civil service /mod pension and invest it into a B&B for me to run/own when I reach 55

The Civil Service pension is a Defined Benefit scheme which will allow a tax-free lump sum and monthly pension. You will be able to take a maximum of 25% tax free although this is unlikely to be your best option as the index-linked pension is very valuable.

You will also lose about 25% of your pension by taking it 5 years early – assuming your normal retirement date is age 60.

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No, a B&B would count as residential property and therefore not be a permitted investment within a pension.

I am an Independent Financial AdviserAnything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.